Credit Review
JPMorgan revenues hit by fixed-income slump A 23% drop in fixed income earnings during the third quarter slashed profits at the bank
Third-quarter earnings at JPMorgan Chase, the second largest bank in the US, plunged as fixed-income trading recorded a sizeable drop in revenue. During the third quarter, the company reported that fixed-income revenues of $1.1 billion were down 23%, or $336 million, due primarily to lower trading results. Moreover, profits fell from $1.6 billion to $1.4 billion, marking a decrease of 13% over the third quarter last year.
“Operating results in the third quarter were disappointing, primarily
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